News Updates
No Sufficient Evidence To Establish Dominance In Loan Against Property Market, CCI Dismisses Complaint Against Indiabulls Housing Finance Limited
The Competition Commission of India (Commission) bench, comprising Ms. Ravneet Kaur (Chairperson), Ms. Sweta Kakkad (Member), Anil Agrawal (Member) and Mr. Deepak Anurag (Member), has dismissed the complaint against Indiabulls Housing Finance Limited (IHFL) and its Former Chairman, Chairman, Vice Chairman, Managing Director, Executive Director, and Financial Officer. The Commission found that although IHFL is the third-largest non-bank mortgage lender in India, the sector is highly...
50 Constitution Bench Matters Pending In Supreme Court, Oldest From 1994; 2192 Cases Disposed Since 1950: Law Ministry
Presently, 50 Constitution Bench matters are pending in the Supreme Court. Out of these, 35 cases are pending before 5-Judge Bench, 8 cases are pending before 7-Judge Bench and 9 cases are pending before 9-Judge Bench for adjudication. This information was furnished by the Union Ministry Of Law & Justice as per the information available on the National Judicial Data Grid (NJDG),...
RBI Cancels Licence Of Mahabhairab Cooperative Urban Bank Ltd Due To Financial Non-Compliance
The Reserve Bank of India (RBI) has cancelled the banking licence of Mahabhairab Cooperative Urban Bank Ltd., based in Tezpur, Assam. Effective from the close of business on July 24, 2024, the bank will cease all banking operations. The bank was found to lack adequate capital and its earnings prospects were insufficient. This inadequacy in financial resources directly contravenes...
Bengaluru Court Rejects Actor Darshan's Plea Seeking Home-Cooked Food, Clothing In Prison
A city court in Bengaluru on Thursday rejected the application filed by Kannada actor Darshan Thoogdeep Srinivas seeking home cooked food, bedding etc from outside prison. Additional Chief Judicial Magistrate Vishwanath C Gowdar said, “Prima facie, at this stage of proceedings, the report of Chief Medical Officer dated 22.07.2024 does not warrant the interference by this court, with respect...
357 High Court Judge Posts Vacant; 219 Proposals From HC Collegiums Being Processed: Union Law Ministry In Rajya Sabha
Responding to a question tabled in the Rajya Sabha, the Union Ministry of Law and Justice today stated that as of July 19, 2024, against the sanctioned strength of 1114 Judges in various High Courts, 757 Judges are working (approx 68%) and 357 posts of Judges are vacant (approx 32%).In comparison, in December last year, there were 324 vacancies out of the same sanctioned strength of 1,114...
J&K CCE 2023 | CAT Srinagar Orders PSC To Produce Results Of Provisionally Allowed Candidates In Sealed Cover
In a fresh development regarding the J&K Combined Competitive (Mains) Examination, 2023, the Central Administrative Tribunal (CAT) Srinagar, comprising members Prasant Kumar (Member A) and M.S. Latif (Member J), has directed the Jammu and Kashmir Public Service Commission (JKPSC) to present the results of provisionally allowed candidates in a sealed cover before the court.After hearing...
'Dishonest, Misleading': SEBI Rejects Defence And Mandates Disclosure, Shareholder Approval For Material Related Party Transactions
The Securities and Exchange Board of India (SEBI) has issued a final order concerning Linde India Limited (LIL) and its related party transactions (RPTs) with Praxair India Pvt Ltd (PIPL) and Linde South Asia Services Pvt Ltd (LSASPL). The decision follows exchange between SEBI and LIL which began after SEBI's interim order on April 29, 2024 that questioned the legitimacy of...
SEBI Fines IFGL Rs. 4 Lakh For Regulatory Breaches And Deficient Investor Grievance System
The Securities and Exchange Board of India (SEBI) has fined Delhi-based Indian Finance Guaranty Ltd (IFGL) Rs. 4 lakh for failing to meet regulatory standards particularly in relation to its investor grievance system. SEBI conducted an inspection of IFGL which uncovered regulatory breaches. The primary issues identified included IFGL's engagement in fund-based activities and...
Supreme Court Collegium Recommends One-Year Extension For Nine Additional Judges Of Calcutta High Court
The Supreme Court Collegium has recommended an extension of tenure by one year for nine additional judges of the Calcutta High Court.The Collegium comprising CJI DY Chandrachud and Justices Sanjiv Khanna and BR Gavai has recommended the names of the following additional judges for extension of tenure:Justices (i) Biswaroop Chowdhury, (ii) Partha Sarathi Sen, (iii) Prasenjit Biswas, (iv)...
Agreement Executed Between Saint Gobain India And Its Processor Is Not Anti-Competitive, CCI Dismisses Complaint Against Saint Gobain India
The Competition Commission of India (Commission) bench, comprising Ms. Ravneet Kaur (Chairperson), Ms. Sweta Kakkad (Member), and Mr. Deepak Anurag (Member), has dismissed the complaint against Saint Gobain India. The bench found that the exclusive supply obligations, co-branding arrangements, and resale price maintenance clauses in the agreement between Saint Gobain India and one of...
Former Kerala High Court Judge Justice Alexander Thomas Appointed As Chairperson Of Kerala State Human Rights Commission
Former Kerala High Court judge, Justice Alexander Thomas has been appointed as the Chairperson of the Kerala State Human Rights Commission.The recommendation to appoint the Former Acting Chief Justice of the Kerala HC as Chairperson of the State Human Rights Commission has been approved by the Governor.Mr. Byjunath has been the Acting Chairman of the Commission after the tenure of...
Delhi Court Issues Summons To YouTuber Dhruv Rathee In Rs 20 Lakh Defamation Suit By BJP Leader Suresh Nakhua
A Delhi Court has issued summons to YouTuber Dhruv Rathee in a defamation suit filed by BJP Mumbai spokesperson Suresh Karamshi Nakhua.Nakhua has alleged that Rathee referred to him as a part of “violent and abusive trolls” in his YouTube video titled “My Reply to Godi Youtubers | Elvish Yadav.”He has sought Rs. 20 lakhs damages from Rathee for “defamation caused to him on...